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? it is contained. we do not think it is a contagion threat. in the so-called double deficit countries, they are quite small in terms of their exposure to the developed market angst. opportunityke this to buy more emerging-market equities right now? intoe you still buying other equity markets, more developed markets in the u.s. and eurozone? >> it depends on your timeframe. over the next six months, i don't see a lot of triggers that will send the emerging markets story into a by scenario. i would be cautious. the valuation discount is about 30% and that is attractive. and lot of contagion risk that is psychology with the ukraine and other stories is scary so i would be cautious to neutral on emerging markets right now. have thena does not risk of contagion, you mentioned the fragile five, which might present a risk when we talk about the contagion to emerging markets? >> i don't think any of the fragile five are a risk in the developed markets for a couple reasons. they are tiny. take argentina and venezuela and put them together, less than half a point of global gdp. they are really
on the largest deficit is one that is pretty sudden. they will behind going with the smaller parties and it is like a game of cricket. but they really want to see is to find the stable location that will bring in certainty and bring it back to the table. we will see that by the 16th of may. the upcomingout indian elections. >> when we come back, we will hear more about microsoft and the somebody who knows a thing or two about it. stay with us here on "countdown." ♪ >> welcome back to "countdown." microsoft former chief executive steve ballmer speaking one month after leaving the tech giant and bloomberg was there. for more, let's bring in caroline hyde with the details on what was a fascinating evening. >> wait for it. wait for it. there, on the bottom right. >> bloomberg presents the oxford union debate. with bloomberge having this relationship with the oxford union and he was fascinating. this is the first time he was x ceo. speak as the he is still on the board and one of the bigger shareholders but no longer running a. he spoke very eloquently about the concern that he did not
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